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Attachments: 4 Hour Strategy (MACD)
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4 Hour Strategy (MACD)

  • #3,321
  • Apr 6, 2007 11:55am Apr 6, 2007 11:55am
I took the trade aswell yesterday.
I'm still short the eur/usd.
  • #3,322
  • Apr 6, 2007 11:58am Apr 6, 2007 11:58am
irusoh:

Smartest thing I've heard all week, next to Phillip's teachings that is
  • #3,323
  • Apr 6, 2007 12:25pm Apr 6, 2007 12:25pm
Quoting Palmer
Smartest thing I've heard all week, next to Phillip's teachings that is
Yooooh, Phillip is THE MAN.
  • #3,324
  • Apr 6, 2007 12:39pm Apr 6, 2007 12:39pm
Quoting irusoh
I believe that's where you are wrong. Those people don't get paid to guess the actual number but rather to spin, mislead and confuse us, so that we are wrong most of the time. LOL.

The actual movement of the price tells the true story. The picture on the screen tells us what is going on and not some analyse somewhere shouting or writing what he thinks. The action should be
"The facts are in front of me, therefore I will do this and that"


If you start acting upon someone's opinion or what he thinks unless he has proven himself you are going to go down.
  • #3,325
  • Apr 6, 2007 12:52pm Apr 6, 2007 12:52pm
Quoting Phillip Nel
The actual movement of the price tells the true story. The picture on the screen tells us what is going on and not some analyse somewhere shouting or writing what he thinks. The action should be
"The facts are in front of me, therefore I will do this and that"


If you start acting upon someone's opinion or what he thinks unless he has proven himself you are going to go down.

Just some Info
Attached File(s)
File Type: zip 4Hour Strategy.zip   839 KB | 2,009 downloads
  • #3,326
  • Apr 6, 2007 1:38pm Apr 6, 2007 1:38pm
Quoting Phillip Nel
Just some Info

Thank you again Phillip for all that you doe for us, have a great week end and looking forward to learning more next week
  • #3,327
  • Apr 6, 2007 1:54pm Apr 6, 2007 1:54pm
Quoting Phillip Nel
Info
Hi Phil,

thank you for the audio. I have one question. You mentioned the trendline which should be drawn for the RT at cable on the 3rd of april. But I wasnt able to figure out which trendline you meant. Could you or someone else please attach a chart with it? Thanks in advance and have a nice holiday.

Best regards
Chandsen
  • #3,328
  • Apr 7, 2007 5:02am Apr 7, 2007 5:02am
Quoting Phillip Nel
The actual movement of the price tells the true story. The picture on the screen tells us what is going on and not some analyse somewhere shouting or writing what he thinks. The action should be
"The facts are in front of me, therefore I will do this and that"


If you start acting upon someone's opinion or what he thinks unless he has proven himself you are going to go down.
I used to read a lot and listen a lot to what others where saying. Now that I look back, they definitly where at least putting lot of confusion in my mind and letting me do lot of bad trades. I think that definitly they do not mean what they are saying, maybe on purpose as Irusoh noticed. Most analysts where putting fear of EU reaching 1.3480 and 1.3580 then 1.3650. Some where starting talking about 1.4 levels. Just rubbish talk in my opinion. Even if EU is in an obvious uptrend, it will not breash so easily these levels.

I will bet that when EU will go down again, and it will definitly go under 1.3300 soon in my opinion, they will start stressing on down levels and forget all abput what they said on the upper one. Is this a game for them? Or are we the game for them. I think we are and they are paying with us, with our emotions to take our money.

Before I knew anything about fundamental news I was trading in a demo account and was able to double my account every month just by working on R/S levels and following market emotions (Double tops, overbought/oversold levels) and practicly having more than 90% up to 100% winning trades. Then I learned fundmentals and start loosing because of emotions.

I am sharing with you this experience to emphasis what Phil is saying:

"The facts are in front of me, therefore I will do this and that"

Even if you forget all about fundamentals and you follow your system with a proper money management, you will be a winner.

Apply on reading your charts, follow any consistent system ,4hours MACD system for exemple is a great one a big thanks to Phil and his follow up, and most of the time you will have consistent wins.

Stop listening to analysts nonsense (Well at least most of them)

Happy Easter to all and God bless
  • #3,329
  • Apr 7, 2007 5:19am Apr 7, 2007 5:19am
Quoting chandsen
Hi Phil,

thank you for the audio. I have one question. You mentioned the trendline which should be drawn for the RT at cable on the 3rd of april. But I wasnt able to figure out which trendline you meant. Could you or someone else please attach a chart with it? Thanks in advance and have a nice holiday.

Best regards
Chandsen
See how support becomes resistance
Attached Image
  • #3,330
  • Apr 7, 2007 8:47am Apr 7, 2007 8:47am
I have been hearing alot about gaps that occur after news and over the weekend. The consensus is that the gap normally fills in the direction of the gap. Is there anyone here that can explain how to trade these gaps? and does the macd show signals that can used to trade them?
Thanks
  • #3,331
  • Apr 7, 2007 10:33pm Apr 7, 2007 10:33pm
Quoting smnitro1
I have been hearing alot about gaps that occur after news and over the weekend. The consensus is that the gap normally fills in the direction of the gap. Is there anyone here that can explain how to trade these gaps? and does the macd show signals that can used to trade them?
Thanks
i dont know about the MACD giving signals about that. since its an indicator and indicators lag I highly doubt it would.. but you have to look at whether or not the gap is closed.. once its closed it 90% of the time will continue in that direction for a good while. so just watch for the speed at which it breaks through and fills the gap. and make sure you use good money management and proper stops
  • #3,332
  • Apr 7, 2007 10:48pm Apr 7, 2007 10:48pm
Quoting smnitro1
I have been hearing alot about gaps that occur after news and over the weekend. The consensus is that the gap normally fills in the direction of the gap. Is there anyone here that can explain how to trade these gaps? and does the macd show signals that can used to trade them?
Thanks
Actually I've seen that a lot, gaps closing after the weekend. To use MACD as it is used on this thread, try 15min instead of 4 hours as these gaps usually close within a 2-3 of hours.

Here is a nice one USDJPY on March 19.
Attached Image
  • #3,333
  • Apr 8, 2007 7:06am Apr 8, 2007 7:06am
If you want to paricipate in a chat around the 4 Hour MACD Strategy
Go to www.skype.com and install skype and then click the link below to get access to the chat.

You can only benefit from the discussions and if not satisfied you can leave the chat when ever you want or ask the host to remove you.

I hope that the chats will only be positive. Bad stuff wont be allowed on the chat.

Everything on this chat must be treated as opinions of different people and any actions according to something published on this chat must only be done after thorough investigation.

The host which is me will have full rights to stop this chat whenever he feels it is no longer of any use or when the majority feels it nescessary to do so

LINK:

http://ui.skype.com/ui/0/3.1.0.144/e...T7Gp_-AjQF23tQ
  • #3,334
  • Apr 8, 2007 7:21am Apr 8, 2007 7:21am
great. thanks for initiating a Skype chat, that's a good idea.
  • #3,335
  • Apr 8, 2007 2:13pm Apr 8, 2007 2:13pm
Quoting Phillip Nel
Does not have a feel for this pair. I had a quick look and I will change the MACD settings to 8,21,1 to give it a smoother motion. Have a look and tell me what you think. The current movement is to much around the zero. Makes me nervous.
The settings that you are using (5, 13, 1) correspond exactly to the Slow GMMA indicator. When there is a 0 line cross on the MACD, the slow GMMA is crossing over. This appears to hold true regardless of the pair in question. I think changing the MACD settings would be a bad idea - just don't trade a pair that isn't giving clear signals. The crossovers typically contain decent momentum to push trades further to hit your TP levels before bouncing back. Also, round tops/bottoms correspond to "bubble" trades with the GMMA - but the MACD indicator shows them very clearly. I'm really glad I found this thread as it's trading style is making use of these MMA's very well.

The GMMA is the Guppy Multiple Moving Averages. The blue lines are the slow GMMA's which correspond to the MACD indicator..

I always had questions about when to exit trades though.. I'm still reading about your use of MA's but this just might be the thing I was looking for. Previously I was just taking a portion of the 7 day ATR for the take profit levels, but the MA's make more sense.

Jason
Attached Image
  • #3,336
  • Apr 8, 2007 2:28pm Apr 8, 2007 2:28pm
Quoting jlowder
The settings that you are using (5, 13, 1) correspond exactly to the Slow GMMA indicator. When there is a 0 line cross on the MACD, the slow GMMA is crossing over. This appears to hold true regardless of the pair in question. I think changing the MACD settings would be a bad idea - just don't trade a pair that isn't giving clear signals. The crossovers typically contain decent momentum to push trades further to hit your TP levels before bouncing back. Also, round tops/bottoms correspond to "bubble" trades with the GMMA - but the MACD indicator shows them very clearly. I'm really glad I found this thread as it's trading style is making use of these MMA's very well.

The GMMA is the Guppy Multiple Moving Averages. The blue lines are the slow GMMA's which correspond to the MACD indicator..

I always had questions about when to exit trades though.. I'm still reading about your use of MA's but this just might be the thing I was looking for. Previously I was just taking a portion of the 7 day ATR for the take profit levels, but the MA's make more sense.

Jason

Thanks for the reply. Good pipping to you. Hope you find a good exit method as it is very important. You have not gain anything untill you close the deal for a gain.
  • #3,337
  • Apr 8, 2007 3:14pm Apr 8, 2007 3:14pm
Quoting Phillip Nel
If you want to paricipate in a chat around the 4 Hour MACD Strategy
Go to www.skype.com and install skype and then click the link below to get access to the chat.

You can only benefit from the discussions and if not satisfied you can leave the chat when ever you want or ask the host to remove you.

I hope that the chats will only be positive. Bad stuff wont be allowed on the chat.

Everything on this chat must be treated as opinions of different people and any actions according to something published on this chat must only be done after thorough investigation.

The host which is me will have full rights to stop this chat whenever he feels it is no longer of any use or when the majority feels it nescessary to do so

LINK:

http://ui.skype.com/ui/0/3.1.0.144/e...T7Gp_-AjQF23tQ
This is great Phill, Thanks for initiating this chat.
Good Luck eveyone..
  • #3,338
  • Apr 8, 2007 3:18pm Apr 8, 2007 3:18pm
Thanks for sharing this strategy. Looks like a real winner.
  • #3,339
  • Apr 8, 2007 7:31pm Apr 8, 2007 7:31pm
Phillip,

I would like to say that I am impressed with your system here and also the thoroughness of your information. Thanks for sharing this. I too have been trying everything I could find to make my forex trading work. It seems everyone has the answer and is willing to share it, at a price (usually a very high price). I have been using the Forex Factory calendar for a while and I just stumbled across this thread and what I have seen looks like something that could finally work for me. I have been studying your PDF documents and started to review the posts here. I have set up charts as per your instructions and started to test things out and I am really liking what I am finding. I will continue to follow this and hopefully will get to a point where I can benefit from this. I hope to, at some point, be able to contribute here as well because I believe a big part of learning is sharing with others. You get more than you give.

Thanks for everything,
  • #3,340
  • Apr 9, 2007 8:16am Apr 9, 2007 8:16am
Just starting to cover the vast amount of information here. I am working the exercise that you posted in February. Very informative! I know this will take me a while to master but I see the great potential here. I am still looking for some questions to ask but it seems that when I do think of one, you answer it somewhere in these posts. I'll keep looking.
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